LEASES (Tables)

12 Months Ended

Mar. 31, 2022

Leases [Abstract]

Components of Operating Lease Cost and Supplemental Cash Flow Information

The components of operating lease cost for the fiscal years ended March 31, 2022 and 2021 were as follows (in thousands):

	Fiscal Year Ended March 31,
	2022		2021
Lease cost under long-term operating leases	$	12,817	$	13,092
Lease cost under short-term operating leases	4,127		3,678
Variable lease cost under short-term and long-term operating leases	3,523		3,800
Total operating lease cost	$	20,467	$	20,570

The table below presents supplemental cash flow information related to leases during the fiscal years ended March 31, 2022 and 2021 (in thousands):

	Fiscal Year Ended March 31,
	2022		2021
Right-of-use assets obtained in exchange for new operating lease liabilities	$	4,002	$	2,492

At March 31, 2022 and 2021, the weighted average remaining lease term in years and weighted average discount rate were as follows:

	March 31, 2022		March 31, 2021
Weighted average remaining lease term in years - operating leases	6.98		7.70
Weighted average discount rate - operating leases	4.0	%	4.1	%

Future Minimum Payments Under Non-Cancellable Leases

Future minimum payments under non-cancellable leases at March 31, 2022 are as follows (in thousands):

Year Ending March 31,
2023	$	12,789
2024	11,635
2025	11,038
2026	9,666
2027	7,408
Thereafter	22,406
Total lease payments	$	74,942
Less imputed interest	(9,604)
Present value of lease liabilities	$	65,338